ADC Electrical & Property Services Limit - Abbreviated accounts 16.1

REGISTERED NUMBER: 07826982

ADC ELECTRICAL & PROPERTY

SERVICES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr A D Crampton

Mrs K Crampton

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

07826982

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

HSBC

12 Victoria Street

Nottingham

NG1 2FF

FIXED ASSETS

Tangible assets

2

23,560

28,633

CURRENT ASSETS

Stocks

6,880

7,870

Debtors

57,246

50,431

Cash at bank and in hand

964

13,874

65,090

72,175

CREDITORS

Amounts falling due within one year

3

80,019

90,100

NET CURRENT LIABILITIES

(14,929

)

(17,925

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,631

10,708

CREDITORS

Amounts falling due after more than one year

3

(3,167

)

(7,787

)

PROVISIONS FOR LIABILITIES

(4,335

)

(227

)

NET ASSETS

1,129

2,694

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

1,029

2,594

SHAREHOLDERS' FUNDS

1,129

2,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 July 2016 and were signed on its behalf by:

Mr A D Crampton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

At the balance sheet date, the company had net liabilities of £(1,129). The company is reliant on the continued

support of its director. The director have confirmed their intention to support the company.

On the above basis the director consider that the financial statements be prepared on a going concern basis

Turnover

Turnover represents the value excluding Value Added Tax of electrical and related services provided to

customers during the year. In respect of electrical and related services provided, all income is taken to profit and

loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

49,438

Additions

1,820

At 31 October 2015

51,258

DEPRECIATION

At 1 November 2014

20,805

Charge for year

6,893

At 31 October 2015

27,698

NET BOOK VALUE

At 31 October 2015

23,560

At 31 October 2014

28,633

3.

CREDITORS

Creditors include an amount of £ 9,544 (2014 - £ 16,886 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 October 2015 and the period

ended 31 October 2014:

2015

2014

£

£

Mrs K Crampton and Mr A D Crampton

Balance outstanding at start of year

6,187

-

Amounts advanced

46,769

6,187

Amounts repaid

(46,688

)

-

Balance outstanding at end of year

6,268

6,187